Direct Deposit, Check Signing, & Pay Cards
Coastal Payroll offers full direct deposit and check signing services. We also offer Pay Cards for your employees who may not have bank accounts, allow them to also participate in direct deposit.
To preserve the security of your payroll information, all of our checks are pressure-sealed before packaging. We laser sign your payroll checks using single, double, or triple signature lines and even add your company’s logo and address to your payroll checks if you like! We then pressure-seal the checks. The employee’s name and address, division, department, employee number, and check number print on the outside of the check to help you get them all in the right hands. Signed, sealed, and delivered.
Many employers do not enjoy the burden of reconciling paychecks for their staff so we offer our Official Bank Check service to those employers. With this service, we impound all funds for live payroll checks (checks not paid via direct deposit) and issue those checks from our account. This eliminates the need for the employer to reconcile the outstanding checks each month and puts the burden on us.
Our SOLE pay card solutions is a great alternative to paper checks; pay your employees instantly and eliminate the hassle of lost checks. Money is deposited directly on to the card on the day of pay, with unlimited point of sale purchases and the ability to check your balance over the phone.
WHAT IS THE SOLE VISA® PAYROLL CARD?
The SOLE Visa® Payroll Card is a payroll prepaid card that eliminates paper checks and the need to convert checks into cash. The payroll card is funded as a direct deposit transaction through your existing payroll system. No bank account or credit check is required. All of your employees are eligible.
WHY DO I NEED IT?
The SOLE Visa® Payroll Card allows you to save more by cutting costs in check printing and shipping. According to NACHA, companies can save up to $3.15 per payment by using direct deposit instead of paper checks.* A company with 100 employees on paper checks can save nearly $19,000 a year by switching to direct deposit.
*Source: Employee Benefit Research Institute and Mathew Greenwald & Assoc., Inc., Retirement Confidence Survey
WHY DO MY EMPLOYEES NEED IT?
Give your unbanked employees the convenience of direct deposit. The SOLE Visa® Payroll Card eliminates the necessity of inconvenient and expensive check-cashing stores. Your unbanked employees will now be able to enjoy the same cost-saving, time-saving benefit of direct deposit already available to those with traditional bank accounts. They will be able to pay bills and make purchases online, use their card everywhere Visa debit cards are accepted, and get cash back at point-of-sale, banks, and ATMs.